Utah Power & Light Company - Lehman Brothers Collection the 1920s They were particularly prevalent with the utility industry By 1929 a group of sixteen generated over 80 percent of all electric energy in the country and three systems accounted for over 45 percent Following its formation Utah Power set out to acquire other electric companies and unify them into one large integrated super power system rather than operate them as separate independent entities Within four years it had purchased twenty seven utility companies and eventually absorbed more than 130 By 1922 on its tenth anniversary Utah Power had made considerable progress towards its goal It served 205 communities in four states had 83 000 customers and operated forty generating plants with an installed capacity of 224 000 kilowatts Four newly built or expanded plants on the Bear River provided half of that capacity Each of the forty plants was connected through a system of high voltage transmission lines with a new main distribution center in Salt Lake City Many other new substations were built during this period and distribution lines were upgraded and extended Bear Lake was developed as a storage reservoir with twenty three miles of inlet and outlet channels that carried the entire flow of the Bear River in and out of the lake and a pumping station capable of delivering 3 000 acre feet of water per day was built at the north end The 1920s were financially stable times for Utah Power Gross revenues between 1923 and 1927 ranged from 10 1 million in 1923 to 11 4 million in 1925 10 6 million in 1927 and 10 8 million in 1928 In March 1925 Electric Bond and Share Company liquidated Utah Securities Corporation Utah Securities was a holding company owned by Electric Bond and Share Company and it was through this subsidiary that

Van Camp Milk Company - Lehman Brothers Collection in Indiana in 1928 to acquire eight evaporated milk packing and concentrating plants from the Van Camp Packing Company This new corporation was owned and controlled by Van Camp Packing The plants for the milk company were located in Angola Indiana Wauseon and Bryan Ohio Adrian and Homer Michigan and Sawyer Casco and Watertown Wisconsin The plants had a capacity in excess of two million cases of evaporated milk in

W. W. Grainger, Inc. - Lehman Brothers Collection the previous year s to 163 000 the first of only four years where sales would not increase In 1937 the company had sixteen branches in operation and sales of over 1 million That same year it began merchandising selected products under the Dayton trademark Grainger s first private label To stimulate summer business a line of air circulators and ventilating fans was designed and offered for sale in 1938 The complexity of the industry allowed Grainger to decentralize marketing efforts and strengthen its regional presence by adding an outside sales force in 1939 During World War II the company acted as a distributor of electric motors for government use With its normal market disrupted Grainger offered furniture toys and watches through MotorBook for a brief period of time Grainger continued expansion during the war as sales grew from 1941 s 2 6 million to 7 8 million in 1948 From 1948 to 1952 sales more than doubled By that time a single sales representative could no longer serve an entire branch and in 1948 Grainger expanded the sales force for the first time Beginning in 1953 the company created a regional warehousing system that replenished branch stock and filled larger orders Called regional distributing centers they were eventually located in Chicago Atlanta Oakland Ft Worth Memphis and Cranford New Jersey As alternating current became standard in the United States Grainger s market changed No longer processing large orders the company intensified its focus on the secondary market that existed throughout the country small manufacturers servicers and dealers who purchased with high frequency but low volume Expansion continued through the 1950s and 1960s at a consistent pace By 1967 the company operated ninety two branches In 1966 sales were nearly doubled to 80 2 million Automation helped build the company

Wagner Electric Corporation - Lehman Brothers Collection 1929 Wagner reported a profit of 1 9 million The following year in 1930 income fell to 813 362 In 1931 Wagner earned even less with a profit of 348 748 This was followed by a loss of 66 349 in 1933 and then a gain in 1934 of 314 330 Towards the end of the 1930s the company improved showing profits of 1 4 million in 1936 1 6 million in 1937 but then earning only 267 657 in 1938 That year Wagner was employing 5 000 Wagner manufactured electrical machinery for the war during the 1940s Wagner posted the highest sales in its history at 90 7 million in 1952 up 12 percent from the previous year Wagner went public in 1954 with an initial public offering of 150 000 shares of common stock The stock was listed on the New York Stock Exchange on May 8 The company continued to manufacture electric motors mainly for industrial purposes but also transformers hydraulic brake equipment and other supplies for vehicle brake systems Wagner s sales were almost evenly divided between automotive products and electrical equipment In 1956 sales broke the 100 million mark at 100 744 000 with net income of 6 544 757 During the late 1950s through most of the 1960s sales for Wagner remained relatively flat at approximately 100 million The company embarked on various construction projects such as a new multi million dollar distribution transformer plant in St Louis County in 1962 an 81 000 square foot engineering research center in 1964 and in 1965 a 150 000 square foot building that would serve as the central product distribution center for the company s automotive parts and accessories division In June 1966 Tung Sol Electric Inc of Newark New Jersey made a tender offer to

Ward Foods Overseas Capital Corporation, N.V. - Lehman Brothers Collection 1988 The Ward Foods Company was a diversified producer of foods and food processing equipment based in New York Ward Foods expanded through an ambitious series of acquisitions during the 1960s The Ward Foods Overseas Capital Corporation was a wholly owned subsidiary of Ward Foods formed for overseas expansion In October 1968 Ward Foods Capital sold 15 million of convertible twenty year debentures that were convertible into common stock of

West Penn Electric Company - Lehman Brothers Collection Using the Business Records Using the Deal Books Chronology Company Industry Glossary History of Lehman Brothers West Penn Electric Company Lehman Brothers Collection West Penn Electric Company List of Deals 1949 The 3 1 2 sinking fund collateral trust bonds

Western Union Corporation - Lehman Brothers Collection s predecessor the New York and Mississippi Telegraph Company was established by a group of Rochester New York businessmen in 1851 The company changed its name to Western Union Telegraph Company five years later signifying the union of western telegraph lines into one system following the acquisition of a series of competing telegraph systems The company completed the first transcontinental telegraph line in 1861 providing fast communications during the Civil War Five years later Western Union introduced the first stock ticker providing brokerage firms with New York Stock Exchange quotes In 1870 the company launched a time service helping to standardize time nationally Western Union held the distinction as the Nation s Timekeeper for nearly a century Western Union Money Transfer service was introduced the following year and became the company s primary business In 1884 Western Union was selected as one of the original eleven stocks tracked in the first Dow Jones Average The company introduced the first consumer charge card in 1914 Western Union introduced teletypewriters in 1923 which joined branches and individual companies Ten years later singing telegrams were introduced In 1935 the first inter city facsimile service was introduced and in 1943 the first commercial inter